Bandai Premium is releasing the Ultimate Modeling Series SP Ultraman Type C Drama Color Ver. to celebrate Ultraman's 50th Anniversary, this figure seems per translation to be made by X-Plus. It feature a gloss finish, stands one meter tall, and has a high level of detail from the original suit. It's an expensive figure retailing for 108,000 yen (approx $1016 US), and can be pre-ordered now and will be available in Jan 2017 from Bandai's site here.
Update: There will be a gold version as well (pics at bottom), size, cost, and other info basically the same.